The Single Currency Facility (SCF) was introduced in 1996 in response to borrowers’ demand for loans denominated in a single currency. The SCF product enabled borrowers to avoid multi-currency exchange rate exposures held in loans approved under the Currency Pooling System (CPS). Under the SCF, borrowers could obtain loans in US dollars, Euro, Japanese yen, Swiss francs and/or any combination.

The SCF was first introduced with a pool-based adjustable interest rate (SCF-ADJ) based on the weighted average cost of fixed and floating rate bonds allocated to the pool. To provide borrowers more flexibility to manage interest rate exposures, in 2003 a market based product, the SCF-LIBOR was introduced. On June 30, 2009, the SCF-ADJ rate product was discontinued for new approvals. SCF-ADJ rate resets semiannually on January and July.

For applicable rates on SCF-ADJ outstanding balances, please refer to Interest Rates and Charges.

For historic rates, please see SCF-Adjustable rates.